Tax Credits for Energy Efficient Improvements

There is quite a bit of hype on the radio, television, the Internet and elsewhere with respect to energy efficiency and federal tax credits. The energy savings through greater efficiency sounds great and it can be a pretty smart investment, but be sure the home improvements that you are planning qualify for a tax credit.

The energy tax credit is capped at $1,500 which includes items like insulation, windows and doors (including sliding glass and storm doors); garage doors, new furnaces, biomass stoves, water heaters as well as asphalt and metal roofs.

Tax credits are available at 30% of the cost through 2016 for existing homes and new construction for improvements like geothermal heat pumps, solar panels and wind energy systems.

Don’t rush into anything until you talk to a professional contractor and even then you need to check out what they're telling you. Certain ads on the radio or television make it sound as though you need to use a certain brand or contractor who is qualified. An energy-efficient improvement qualifies for a tax credit based on the type of upgrade and the material used, and is not dependent upon who performs the work.

If you are interested in learning more, just email me and I can provide you with some good links to more information.

Have a wonderful weekend and Enjoy…Life is Good…Live It!

Gary Nathan

Amanda Mavis

Woodland Dev & Realty

15563 Railroad Street

Hayward, WI 54843

715-699-4040

nathan@garynathan.com

www.garynathan.com

New Shore Land Standards

In mid November the Natural Resources Board modified the proposed revisions to Wisconsin's shore land development rules found in chapter NR 115 of the Wis. Administrative Code. After 40 years of no updates the Board, just last June, had approved revisions that would provide more flexibility for shore land property owners who wish to make improvements to their existing homes, protect the habitat and landscape, enhance water quality and streamline the permitting process.

New limits were approved for hard surfaces (impervious surfaces) that cause runoff. There were also new requirements for property owners to mitigate or offset the impact of new development or expansion of existing structures.

The latest round of modifications was the result of concern on the part of some folks that the new rules were too restrictive for properties farther from waterways and not restrictive enough for development close to the shorelines.

So, the Natural Resources Board brought back this latest round of changes to the rules which zero in on two key areas:

(1) only properties within 300 feet of any lake, river or stream will be considered with respect to the impervious surface rule. Earlier the rule had included properties within 1000 feet of water, and

(2) expanding an existing home that is within 75 feet of the ordinary high water mark now has more limitations. An owner can build a second story or add to it vertically if the existing structure is a minimum of 35 feet from the ordinary high water mark. An owner cannot expand the footprint horizontally within the shoreline setback; that is a change from the earlier rule.

The new rules are expected to go into effect sometime in 2010.

If you wish to get more information you can visit the DNR website at www.dnr.wi.gov/org/water/wm/dsfm/shore/news.htm

Happy Thanksgiving everyone!

Life is a Gift...Live It!

Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15563 Railroad St.
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/

Homebuyer Tax Credit Extended

The tax credit extension and expansion has been approved and provides some great, new opportunities for both first time home buyers and current home owners.

- To summarize the government's latest action for FIRST TIME HOME BUYERS:

- The $8,000 first-time home buyer tax credit is extended.

- The buyer cannot have owned a home within the last three years.

- The home they purchase must be their primary residence.

- Qualified first-time home buyers would receive their $8,000 tax credit if they sign a
purchase agreement by April 30, 2010 and close no later than June 30, 2010.

- The tax credit is up to 10 percent of the home’s value but cannot exceed $8,000.

- Annual income caps to qualify for the tax credit will increase to $125,000 for single filers
and $225,000 for joint filers.

- Partial tax credit can be granted for incomes up to $145,000 for single filers and $245,000
for joint filers.

The NEW expanded part of the action taken by the Congress and the President for
CURRENT HOME OWNERS who are eligible:

- A $6,500 tax credit for current homeowners purchasing a primary residence.

- The home is eligible if the purchase agreement is executed by April 30, 2010 and the transaction closes sometime between now and June 30, 2010.

- The home buyer must have lived in their current home for five consecutive years of the past eight years.

- The new home being purchased does not have to cost more than the current home.

- Annual income caps to qualify for the tax credit will increase to $125,000 for single filers and $225,000 for joint filers.

- Partial tax credit can be granted for incomes up to $145,000 for single filers and $245,000 for joint filers.

Personally I believe this will have a continued positive effect for first time home buyers; I am unsure what to expect will happen with respect to the new part of this stimulus package.

Have a great weekend and good luck to all you hunters; be careful. Life is a Gift...Live It!

Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15563 Railroad St
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/

Tax Credit to be Extended....

The 2009 First Time Home Buyer Tax Credit has been expanded and extended by congress-- changes are to be effective when President Obama signs the bill, possibly by November 6th, today.

Below are some helpful links.

Frequently Asked Questions Regarding Tax Credit Changes

NAR Issue Brief: Homebuyer Tax Credit Changes

Title Insurance - OEC

Greetings!

When anyone purchases a property - whether it's a vacant piece of land, home or commercial lot or building, it's typical for the buyer to request and the seller to provide a commitment for a Title Insurance Policy on the property.

It's very important that the buyer and his/her attorney review the Title Commitment received from the Title Company with respect to the conditions of the property. Those conditions include but are not limited to the correct legal description, legal ownership, easements, encroachments, mortgages, real estate taxes due, liens and exceptions and exclusions to the policy itself. There may be changes that occur to the property status between the time of an accepted offer and the closing.

GAP insurance is available for a buyer to purchase to cover certain issues that occur in the time between the issue of a title commitment for an insurance policy and the actual closing of the transaction.

Another kind of insurance policy that isn't is OEC or Owners Extended Coverage. Typically OEC is a policy in which ALL of the standard exceptions have been deleted. While the way the standard exceptions are listed varies slightly from title agent to title agent, they are essentially the following:

1. Rights or claims of parties in possession not shown by the Public Records.
2. Easements, or claims of easements, not shown by the Public Records.
3. Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate survey or inspection of the Land.
4. Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the Public Records.
5. Taxes or special assessments which are not shown as existing liens by the Public Records.
6. Matters first going of record after the effective date of the commitment.

Please note especially "not shown as existing in the public record". If you are a buyer or seller, it certainly is worth your time, effort and money to consider OEC insurance in any real estate transfer; it may be one of the most important investments you make in your next real estate deal.

Thanks to Renee Donaghue of Sawyer County Abstract & Title Company for sharing this information.

Have a great weekend and remember, Life is a Gift...Live It!

Gary Nathan
Amanda Mavis
Woodland Developments & Realty
15563 Railroad St
Hayward, WI 54843
715-634-2110
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/

Living on Waterfront

It’s hard to believe that the summer is winding to and end and we are approaching fall; the weather of late has been just beautiful. We continue to suffer from lack of rain and our area is in an extreme drought condition. With that come low water tables, stressed trees and lakes that are very low. Some ponds have completely dried up and waterfowl is seeking other refuge. With that in mind, it is important to be good stewards of or lakes, rivers, streams and ponds. If we are going to live at the waterfront, we need to be well informed.

There's a guide which addresses many issues that waterfront property owners may face. The University of Wisconsin Extension and Wisconsin DNR have created a new publication for waterfront property buyers and owners titled "Choosing the Right Waterfront Property." The guide is free and can be downloaded at: http://www.eliteemail.com/clicktrack.cgi?cid=79374&url=http%3A%2F%2Fwww.uwsp.edu%2Fcnr%2Fuwexlakes%2Fpublications&u=97567643
In addition, you'll find other helpful resources including information for those who are thinking about buying waterfront property; the publication will help buyers match expectations with the reality of living on our wonderful waterfront properties in northwest Wisconsin.

You will also find information on Aquatic Plant Guides, lake organizations and simple practices that can help you protect your waterfront investment. It’s worth your time to peruse this helpful web site.

Have a great weekend and remember that Life is a Gift…Live It!

Gary Nathan
Amanda Mavis
Woodland Developments & Realty
15563 Railroad Street
Hayward, WI 54843
Cell: 715-699-4040
nathan@garynathan.com
http://www.garynathan.com/

Remodeling Benefits

There are many of you that had planned to put your house on the market but instead you have decided to wait until the current inventory of homes diminishes and pricing grows stronger. In the meantime, you have decided to remodel your existing home and for good reason.

Remodeling will, in most cases, showcase your home better when you are ready to sell and help you reach a premium sales price. You will also have the benefit of enjoying the new additions or changes made during and following the process.

Before you begin, be sure that you make wise decisions in terms of payback for money spent- get the biggest bang for your buck! Try to view your home as a future buyer would and figure out what people are looking for that shop your neighborhood. The biggest priorities we see is that buyers want is a master bedroom suite, two or more bathrooms, updated kitchens and homes that do not have structural issues such as foundations, windows and roofs. If your basement or lower level is damp or wet, get it fixed.

Five of the top-ten average cost projects cited in Remodeling magazine's "Cost vs. Value Report" that provide the highest percentage return are:

Wood Deck Addition - 81.8%
Vinyl Siding Replacement - 80.7%
Minor Kitchen Remodel - 79.5%
Window Replacement - 77.7%
Bathroom Remodel - 74.6%

Other high-dividend projects include attic bedroom, basement remodel and major kitchen remodel. If you don't have a, you may want to consider that addition to help boost appeal to a future buyer.

Your home is one of the largest, if not the largest investment you have made. Do your homework and hire competent local contractors to do the work.

Have a great weekend and remember, Life is a Gift...Live It!

Gary Nathan
Amanda Mavis
Woodland Developments & Realty
15563 Railroad St.
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/

Housing Market Turning the Corner?

There is a strong indication that the housing market may be turning the corner and buyers are getting off the fence. The National Assn of Realtors reported that pending home sales rose in June for the fifth straight month. Most of this has been fueled by the continuing low interest rates, high housing inventories, tax benefits, seller incentives and the bargain prices on many homes. We have certainly witnessed much more buyer activity and deals coming together in just the last 30 days.

Despite what we have been through in this turbulent economy, a recent survey indicates that Americans still believe in the dream of home ownership. According to the June PULSE Top 25 Metropolitan Statistical Areas Survey, 83 percent of consumers believe buying a home is a good financial decision. Those surveyed, which are in their prime home purchasing years (ages 25 to 44), had not been adversely affected by the market in the past several years. About 75% of the survey respondents said that now is a good time to purchase a home because of home price declines.

Consider the following:

1. Today’s headlines indicate that the “Affordability Index” today is the same as 6 years ago (2003) signaling an excellent opportunity for buyers.

2. Case Shiller U.S. housing index shows increased home values for the 1st time in 3 years signaling the probable beginning of the housing recovery.

3. Interest rates today are outstanding – who knows what they will be like next year or the year after. They are at historical lows this year – that we know for sure.

4. Higher inventory levels today are excellent for buyers for 2 reasons:

a. Most Sellers are highly motivated right now (once they see things turn, they will become less motivated – they are tired of the buyer’s market they have been experiencing for 3 long years).

b. Our problem in the past has been not enough inventory to show prospective buyers. Today, a buyer can get much closer to their ideal home (or lot) due to the increased inventory levels and they can get it at a more competitive price.

All in all, it has been challenging and will no doubt continue but we remain focused on the road ahead not the bumps below.

Make it a great weekend. Life is a Gift...Live It!

Gray Nathan
Amanda Mavis
Woodland Dev. & Realty
15563 Railroad St.
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
www.garynathan.com

Shoreland Rules

Recently there has been quite a bit of press regarding new statewide shoreline development rules (NR 115); which was approved last week by the Wisconsin Natural Resources Board. Right now the rule will spend some time in review before being signed into law.

Upon review, it appears that our own County ordinance is more restrictive than NR 115. Counties may have more restrictive, but not less restrictive, rules than what has been approved by the State.

The idea behind the rule is to provide enhanced environmental protection for wetlands, streams, rivers and lakes but not completely shutting down improvement or development by land owners. Good rules are important and necessary. The reason why so many folks come to our County and invest in its real estate is because of the scenic beauty and water quality; its our natural resources and world class events that have put us on the map.

From my perspective, there isn't anything in NR 115 that is more helpful or restrictive than what our County already has in place. For years we have worked over our present ordinance to arrive at a plan to preserve what we so enjoy. If you have a property that contains wetland or borders a lake, river or stream and you anticipate making improvements, I recommend contacting Bill or Eric at the Sawyer County Zoning Office; they are extremely helpful.

For more information on our local ordinance go to http://www.sawyercountygov.org/ and click on the Departments tab in the menu at the top of the page. Scroll down and click on Zoning and Sanitation; on the left hand side of the page you will find several links that lead you to great information regarding ordinances and shoreline zoning.

Have a great weekend and enjoy our beautiful natural resources.

Life is a Gift...Live It!

Gary Nathan
Amanda Mavis
Woodland Developments & Realty
15563 Railroad St
Hayward, WI 54843
715-699-4040
http://www.garynathan.com/
nathan@garynathan.com

Universal Design

There is a new buzz word out there in the building industry that we need to pay attention to. It is “Universal Design”. What is universal design and how is it being used in our Hayward community?

Our good friend, Dennis Smith, of Par Place Condominiums and Apple Awards, provided me with the following information about Universal Design and specifically about his current building at Par Place.

"Universal Design is the design of products and environments to be usable by all people, to the greatest extent possible, without the need for adaptation or specialized design. What makes a home "universal"? It's simple. Everyone can use universal design! It doesn't matter if you are young or old. You could be short or tall, healthy or ill. You might have a disability. Or you may be a prize-winning athlete. Because of universal design, people who are very different can all enjoy the same home. And that home will be there for all its inhabitants even when their needs change.

Universal design is getting popular for three reasons.

First, it is safer. Many of the barriers that cause accidents and falls are eliminated.

Second, it looks nice. People with disabilities don't feel like they are settling for an institutional feeling house. And people who don't have disabilities think that universal homes look and work much better than the old models.

Third, more people want universal housing. This means that the old ways of designing homes just don't work anymore. We all want more comfort in our homes. Opening doors with arms full of groceries is as difficult at 30 as it is at 70. People live longer than they used to. More of us are living with disabilities, or know someone who does, so comfort is important in our homes. The traditional home that serves you well when you are healthy won't always take care of you when you break a leg or hurt your back. Younger people also want a home that will take care of them when they are sick or injured. People now realize that they need homes that will grow old with them. The 82 year old still wants to live in his or her own home; that person just needs a home that allows that to be the case. That's why universal design provides a great plan.

In Hayward, Par Place Condominiums is now constructing homes with many Universal Design features such as:
- One-level living with low or no thresholds in doorways
- Wide interior doors and hallways 36” to 42”
- Lever handles for opening doors rather than twisting knobs
- Light switches with large flat panels rather than small toggle switches
- Attached and heated garage with a no-step entry for easy access to your home in all seasons and weather
- A no-step entryway to the home provides access to the outdoors without steps
- Bright and appropriate lighting, particularly task lighting
- Two large full baths with handicap accessibility including a large no-threshold shower
- Energy Star Rated homes that are affordable to heat, cool and maintain
- High-quality, low-maintenance exterior construction

Par Place also has location and services that work well with Universal design. Located on a 40-acre property in the city of Hayward, there are no steep hills or grades to traverse whether driving or walking. It is close to such things as shopping & health care and actually within walking distance to pick up groceries and hardware. The local Sawyer County Transit provides quick, affordable rides to appointments or lunch at many of the favorite eating establishments. In addition there is affordable outside maintenance for one's universal home that allows more flexibility for travel. Your investment will be cared for and protected. "

We do hope you found this informative and helpful.

Take care & Enjoy - Life is a Gift...Live It!

Gary A. Nathan

Cell: 715.699.4040
Office: 715.634.2110
Home: 715.634.3585
nathan@garynathan.com
http://www.garynathan.com/
Woodland Developments & Realty
15563 Railroad Street
Hayward, WI 54843